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Financial regulation

Financial regulation
Key developments in regulation of financial markets with a focus on those in Hong Kong and mainland China.
The yuan has appreciated steadily in recent months. By contrast, the US dollar has remained under sustained pressure, with investor confidence sapped by persistent concerns over the Trump administration’s policy volatility and fears over long-term fiscal sustainability. Photo: Reuters
Yuan

China’s yuan strengthens to near 3-year high as US dollar uncertainty grows

The offshore currency continues to appreciate, with official fixing also hitting its strongest level since May 2023.

Banking & finance

Why China’s rise as a ‘financial superpower’ could depend on Hong Kong

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Mainland China

UBS China venture faces wrath of silver investors after valuation change

Banking & finance

China puts another big bank under stricter watch – why now?

Beijing continues to impose stricter regulatory standards on major lenders, shielding the financial system from mounting strains.

A signboard of China Zheshang Bank is seen at its branch in Beijing on March 14, 2016. Regulators have now tightened oversight of the bank. Photo: Reuters
Cryptocurrency

Scams and outflows: why China slammed the door on real-world asset tokens

Beijing’s clampdown aims to help safeguard financial security and monetary sovereignty while leaving room for regulated fintech innovation in Hong Kong.

Banking & finance

Farmers’ son banker Xu Yiding under probe by China’s anti-corruption watchdog

The Agricultural Development Bank of China vice-president was once held up as a model figure for finance-driven poverty reduction.

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China trade

UK, China boost financial ties, deepen London’s role as offshore yuan hub

New pact designates a new yuan clearing bank, boosts cross-listings and expands green finance, accelerating the international use of China’s currency.

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British Prime Minister Keir Starmer visited Yuyuan Garden in Shanghai, China, last Friday. Photo: Reuters
Hong Kong property

Expanded Hong Kong scheme allows resale homebuyers to pay sellers directly

HKMA launches a direct transfer option for second-hand property transactions, replacing the traditional escrow system managed by law firms.

China’s private sector

China’s gold trading hub on edge: what is happening – and why now?

Uncertainty spreads in Shuibei as second platform falters, spooking investors.

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China's space programme

Opinion | As China opens up its space sector, Hong Kong should reach for the stars

With deep capital markets and globally aligned legal practices, the city can support a competitive Chinese space programme that shapes global standards.

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Illustration: Craig Stephens
Bitcoin

Hong Kong crypto investors stay cautious but upbeat as bitcoin sell-off deepens

Bitcoin’s steep pullback has rattled global crypto markets, but in Hong Kong clearer rules on stablecoins are underpinning confidence.

Hong Kong is hoping to position itself as a digital asset hub. Photo: Shutterstock
Hong Kong economy

Hong Kong promotes ‘responsible and sustainable’ digital asset regime at Davos

Financial Secretary Paul Chan Mo-po says finance and technology are ‘mutually reinforcing’ but balanced approach needed to support development.

China stock market

China pushes slow bull run with tightened margin financing rules

‘Investors should reduce their leverage levels to guard against the risk of volatility,’ BOC International’s Wang Jun says.

China’s crackdowns

China targets wealthy influencers with audits, fines as fiscal pressures rise

Big data is used to flag income gaps for top online stars and overseas earners, as regulators recover billions in unpaid levies amid slumping land sales and value-added tax revenue decline.

China is cracking down on live-streamers who are not paying their fair share of taxes. Photo: Shutterstock
Banking & finance

Letters | 5 years on, digital banks are taking root in Hong Kong

Readers discuss perceptions of virtual banks, vetting of English teachers, and the outlook for Hong Kong.

People use ATMs in Central in 2024. A 2025 survey found a majority of respondents reporting that digital banks could meet at least half of their daily banking needs. Photo: Eugene Lee
China's economic recovery

China cautions against ‘compound errors’ from clashing policies

Party mouthpiece calls for better coordination and market guidance as 15th five-year planning period begins, warning conflicting rules unsettle investors.

Banking & finance

Exclusive | HKMA teams up with SFC, Insurance Authority to promote fintech over next 5 years

The HKMA is expanding the city’s generative AI sandbox to include other industries, chief executive Eddie Yue Wai-man says.

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IPO

Turning point: China doubles IPOs in 2025 amid eased curbs to boost tech push

CSRC reforms revive fundraising momentum with 115 firms generating US$18.3 billion across mainland China’s exchanges.

The securities regulator rolled back curbs on new listings and resumed approvals for pre-profit technology companies, leading to the IPO boom. Photo: Xinhua
Banking & finance

Opinion | To harness crypto ingenuity, financial threat must first be neutralised

Future of money must be shaped by competition between private ingenuity and public purpose, not by rent seeking and speculative bubbles.

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Hong Kong economy

Hong Kong to broaden crypto rules with new licences for dealers and custodians

New frameworks mooted for virtual asset dealing and custodian services, as Hong Kong forges ahead with plans to become a digital-asset hub.

US-China relations

China showcases joint effort with US in drugs-related money laundering case

Case spanning both nations saw two men sentenced to jail following US tip-off, People’s Daily reports.

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A court in northern China has sentenced two men to prison and fined them for “illegal trading of foreign exchange and disrupting the financial market order”, according to Chinese state media. Photo: dpa
Banking & finance

Hong Kong eyes info sharing on crypto assets to combat tax fraud, evasion

Compliance with OECD framework is of ‘paramount importance’ to maintain Hong Kong’s reputation as a finance hub, secretary says.

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Government aims to complete legislative amendments in the coming year and start automatic exchange of tax information starting in 2028. Photo: Shutterstock
Hong Kong

Crypto exchange Gate weighs Hong Kong licence return amid high compliance costs

Hong Kong’s policies pose some difficulties and covering the cost of operating locally is difficult, founder and CEO Lin Han says.

Banking & finance

Macroscope | Inflated asset prices show markets don’t always know best

With hyperinflated sectors across multiple asset markets, the next crash could be so severe that it prompts a restructuring of global finance.

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Banking & finance

China’s risky shadow banks back in spotlight after debt crackdown

Entities owned by local governments are borrowing billions from trust companies and leasing firms at rates of 8 per cent or higher, sources say.

A view of the Jinan Huanggang Road Yellow River Crossing Tunnel, which is under construction in Jinan city, Shandong province, on March 4, 2025. Photo: Xinhua
China trade

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

People’s Bank of China governor Pan Gongsheng has said that monetary policy must balance internal and external pressures. Photo: Getty Images
China economy

Opinion | China’s shrinking credit reflects a financial reset, not a collapse

Beijing is moving away from the old growth model reliant on rising leverage, towards a framework that prizes risk management and data integrity.

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IPO

Hong Kong crypto exchange HashKey wins listing nod in test of investor appetite

HashKey could raise around US$300 million this month amid Hong Kong’s push to develop its digital asset sector.

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